If that were me (I know how my brain works....), I'd leave something there open, unfinished, and ugly until that stuff arrives. The best way to make something permanent is to call it good enough for now. Things like the twisted wires (that WILL work fine for a short term), leaving stuff like that and not going back to it is how you go from learning to hook up a motor, to learning to tear one apart, identify the wires the hard way, attach new "extensions" deep inside the motor where there's no room at all...
Absolutely take out any backlash where it's practicable, but don't loose too much sleep over some backlash in a lathe. It's nice if it's not terrible, but here will ALWAYS be some. With a lathe, you've got to work REALLY hard to find a time where backlash is gonna get in your way. You always "drive" towards where the cut is going to happen, and the tool pressure always pushes back oposite of the way the tool came in, so the backlash kind of nulls it's self automatically. It's nice when the backlash is lower, but it's not going to change the function of the lathe tangibly. Just how far you've got to back up to "reset" if you accidentally dial in an extra thousandth or two...